New Internet Car Club for Credit Union Members
28 January 1999
New Internet Car Club for Credit Union Members; Program Launched in 5 States; to Reach 12 States by Mid-year Year, Officials Say
SAN FRANCISCO--Jan. 28, 1999--Close to one million credit union members in Pennsylvania, Massachusetts, Connecticut, New Hampshire and Rhode Island got a new and valuable benefit from their credit unions this month.
They now have access to a top-rated Internet auto-buying service offering savings and convenience on auto-buying services, including no-hassle, preset prices on most makes and models.
CUNA Service Group, an affiliate of the Credit Union National Association (CUNA) and Consumers Car Club, which operates the top-rated Internet site for car consumers (www.carclub.com), have together launched CU Car Club (www.cucarclub.com), a benefit available exclusively to members of participating credit unions. The program was launched this month in five states, and will be in 12 states by mid-year. All 50 state credit union leagues will be invited to participate in the unique program. Over 11,000 credit unions today serve some 67 million credit union members in the U.S.
CU Car Club combines the trustworthiness and financial strength of credit unions and Car Club's award-winning products and services for car buyers and owners.
"CU Car Club offers what every car buyer dreams of: a chance to buy a new vehicle at a fair price from a prescreened dealer without hassle, and competitive financing from a credit union they know and trust," said Ellis Waller, Product Manager for CUNA Service Group's Automotive Products. "We anticipate adding hundreds of credit unions serving millions of members to this valuable program in the months to come."
The program offers total flexibility to credit union members, who can log on to www.cucarclub.com and request a referral to a CU Car Club dealer or can speak to a knowledgeable customer service representative by calling 1-888-CARCLUB.
"CU Car Club enables credit union members to save time and money and enjoy peace of mind when buying their next vehicle," said Michael London, Consumers Car Club President and CEO. "Over 40 percent of car shoppers visit the Internet for information and assistance before they buy. This unique program offers to credit union members the power and convenience of the Internet in a format specially designed for them, plus access to expert service representatives from Car Club's state-of-the-art Call Center."
Through the innovative use of Internet technology, members of participating credit unions can log onto www.cucarclub.com and :
-- Thoroughly research virtually any make and model of vehicle they
are considering, including price, safety history, available
options and other data;
-- Seek financing of their vehicle purchase from their credit union
at rates that average 1.5 points under conventional loan rates;
-- Be referred to a local CU Car Club dealer offering pre-set prices
on most makes and models, eliminating the haggling and hassle
often associated with car shopping;
-- Hire a Personal Car Shopper to take care of all the details,
including price negotiations, for a small fee;
-- Using CU Car Club's Custom Factor Ordering service, order a
vehicle to exact specifications from major vehicle manufacturers,
for a small fee
"CU Car Club harnesses the power and convenience of the Internet and the rock-solid dependability of the nation's credit unions," added London. "We've revolutionized the car buying process for the credit union member."
With headquarters in San Francisco, Consumers Car Club is a leading provider of vehicle buying and ownership services on and off the Internet. Yahoo!Internet Life and PC World rate www.carclub.com as the top Internet site for car buyers. Car Club helps consumers with virtually every aspect of vehicle buying and ownership, including a comprehensive assortment of services for used car buyers and sellers, including one of the largest Internet pre-owned vehicle classifieds sites.
CUNA Service Group provides financial products and services and a nationwide financial network for credit unions. It is an affiliate of the Credit Union National Association which serves state credit union leagues in 50 states and the District of Columbia, and the nations' 11,300 credit unions.
